The Reserve Bank of India has decided to rope in a third-party consultancy firm to help it incorporate global best practices in its supervisory role and prepare the risk ratings for various banks in the country. RBI currently conducts supervision of banks through an annual inspection of the banks and their offsite monitoring, but has now decided to rope in an outside agency to assist in its supervisory role in the wake of a sharp growth in the Indian banking sector in the past few years. The third-party consultancy firm would help RBI benchmark the global best practices in supervisory processes, develop risk profile templates and risk rating of commercial banks, and prepare a supervisory manual for conducting risk-based Supervision system........................
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